Official:Amending Section 17-104 of The Philadelphia Code, entitled "Prerequisites to the Execution of City Contracts," by requiring any City Depository authorized to accept City deposits under Section 19-201 of The Philadelphia Code to annually certify compliance with Section 17-104 and, if such depository has disclosed slavery policies sold by it or its profits from slavery, to provide the City with a statement of financial reparations; all under certain terms and conditions.
Sponsor: Councilmember Goode
Introduced: June 9, 2005
Signed: December 1, 2005
: Committee on Finance
Status: Signed into Law, step 4 of 4
This law requires banks and financial institutions that hold city funds to annually certify they don't profit from slavery or sell policies related to it. If they do, they must provide a statement on how they plan to make amends.
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